Truly Agreed, 2015

99.845. 1. A municipality, either at the time a redevelopment
project is approved or, in the event a municipality has undertaken
acts establishing a redevelopment plan and redevelopment project
and has designated a redevelopment area after the passage and
approval of sections 99.800 to 99.865 but prior to August 13,
1982, which acts are in conformance with the procedures of sections
99.800 to 99.865, may adopt tax increment allocation financing
by passing an ordinance providing that after the total equalized
assessed valuation of the taxable real property in a redevelopment
project exceeds the certified total initial equalized assessed
valuation of the taxable real property in the redevelopment project,
the ad valorem taxes, and payments in lieu of taxes, if any,
arising from the levies upon taxable real property in such redevelopment
project by taxing districts and tax rates determined in the manner
provided in subsection 2 of section 99.855 each year after the
effective date of the ordinance until redevelopment costs have
been paid shall be divided as follows: (1)
That portion of taxes, penalties and interest levied upon each
taxable lot, block, tract, or parcel of real property which is
attributable to the initial equalized assessed value of each
such taxable lot, block, tract, or parcel of real property in
the area selected for the redevelopment project shall be allocated
to and, when collected, shall be paid by the county collector
to the respective affected taxing districts in the manner required
by law in the absence of the adoption of tax increment allocation
financing; (2) (a) Payments
in lieu of taxes attributable to the increase in the current
equalized assessed valuation of each taxable lot, block, tract,
or parcel of real property in the area selected for the redevelopment
project and any applicable penalty and interest over and above
the initial equalized assessed value of each such unit of property
in the area selected for the redevelopment project shall be allocated
to and, when collected, shall be paid to the municipal treasurer
who shall deposit such payment in lieu of taxes into a special
fund called the "Special Allocation Fund" of the municipality
for the purpose of paying redevelopment costs and obligations
incurred in the payment thereof. Beginning August 28, 2014,
if the voters in a taxing district vote to approve an increase
in such taxing district's levy rate for ad valorem tax on real
property, any additional revenues generated within an existing
redevelopment project area that are directly attributable to
the newly voter-approved incremental increase in such taxing
district's levy rate shall not be considered payments in lieu
of taxes subject to deposit into a special allocation fund without
the consent of such taxing district. Revenues will be considered
directly attributable to the newly voter-approved incremental
increase to the extent that they are generated from the difference
between the taxing district's actual levy rate currently imposed
and the maximum voter-approved levy rate at the time that the
redevelopment project was adopted. Payments in lieu of taxes
which are due and owing shall constitute a lien against the real
estate of the redevelopment project from which they are derived
and shall be collected in the same manner as the real property
tax, including the assessment of penalties and interest where
applicable. The municipality may, in the ordinance, pledge the
funds in the special allocation fund for the payment of such
costs and obligations and provide for the collection of payments
in lieu of taxes, the lien of which may be foreclosed in the
same manner as a special assessment lien as provided in section
88.861. No part of the current equalized assessed valuation
of each lot, block, tract, or parcel of property in the area
selected for the redevelopment project attributable to any increase
above the total initial equalized assessed value of such properties
shall be used in calculating the general state school aid formula
provided for in section 163.031 until such time as all redevelopment
costs have been paid as provided for in this section and section
99.850. (b) Notwithstanding
any provisions of this section to the contrary, for purposes
of determining the limitation on indebtedness of local government
pursuant to Article VI, Section 26(b) of the Missouri Constitution,
the current equalized assessed value of the property in an area
selected for redevelopment attributable to the increase above
the total initial equalized assessed valuation shall be included
in the value of taxable tangible property as shown on the last
completed assessment for state or county purposes. (c)
The county assessor shall include the current assessed value
of all property within the taxing district in the aggregate valuation
of assessed property entered upon the assessor's book and verified
pursuant to section 137.245, and such value shall be utilized
for the purpose of the debt limitation on local government pursuant
to Article VI, Section 26(b) of the Missouri Constitution; (3)
For purposes of this section, "levies upon taxable real property
in such redevelopment project by taxing districts" shall not
include the blind pension fund tax levied under the authority
of Article III, Section 38(b) of the Missouri Constitution, or
the merchants' and manufacturers' inventory replacement tax levied
under the authority of subsection 2 of Section 6 of Article X
of the Missouri Constitution, except in redevelopment project
areas in which tax increment financing has been adopted by ordinance
pursuant to a plan approved by vote of the governing body of
the municipality taken after August 13, 1982, and before January
1, 1998. 2. In addition to
the payments in lieu of taxes described in subdivision (2) of
subsection 1 of this section, for redevelopment plans and projects
adopted or redevelopment projects approved by ordinance after
July 12, 1990, and prior to August 31, 1991, fifty percent of
the total additional revenue from taxes, penalties and interest
imposed by the municipality, or other taxing districts, which
are generated by economic activities within the area of the redevelopment
project over the amount of such taxes generated by economic activities
within the area of the redevelopment project in the calendar
year prior to the adoption of the redevelopment project by ordinance,
while tax increment financing remains in effect, but excluding
taxes imposed on sales or charges for sleeping rooms paid by
transient guests of hotels and motels, taxes levied pursuant
to section 70.500, licenses, fees or special assessments other
than payments in lieu of taxes and any penalty and interest thereon,
or, effective January 1, 1998, taxes levied pursuant to section
94.660, for the purpose of public transportation, shall be allocated
to, and paid by the local political subdivision collecting officer
to the treasurer or other designated financial officer of the
municipality, who shall deposit such funds in a separate segregated
account within the special allocation fund. Any provision of
an agreement, contract or covenant entered into prior to July
12, 1990, between a municipality and any other political subdivision
which provides for an appropriation of other municipal revenues
to the special allocation fund shall be and remain enforceable. 3.
In addition to the payments in lieu of taxes described in subdivision
(2) of subsection 1 of this section, for redevelopment plans
and projects adopted or redevelopment projects approved by ordinance
after August 31, 1991, fifty percent of the total additional
revenue from taxes, penalties and interest which are imposed
by the municipality or other taxing districts, and which are
generated by economic activities within the area of the redevelopment
project over the amount of such taxes generated by economic activities
within the area of the redevelopment project in the calendar
year prior to the adoption of the redevelopment project by ordinance,
while tax increment financing remains in effect, but excluding
personal property taxes, taxes imposed on sales or charges for
sleeping rooms paid by transient guests of hotels and motels,
taxes levied pursuant to section 70.500, taxes levied for the
purpose of public transportation pursuant to section 94.660,
taxes imposed on sales pursuant to subsection 2 of section 67.1712
for the purpose of operating and maintaining a metropolitan park
and recreation district, licenses, fees or special assessments
other than payments in lieu of taxes and penalties and interest
thereon, any sales tax imposed by a county with a charter form
of government and with more than six hundred thousand but fewer
than seven hundred thousand inhabitants, for the purpose of sports
stadium improvement or levied by such county under section 238.410
for the purpose of the county transit authority operating transportation
facilities, or for redevelopment plans and projects adopted or
redevelopment projects approved by ordinance after August 28,
2013, taxes imposed on sales under and pursuant to section 67.700
or 650.399 for the purpose of emergency communication systems,
shall be allocated to, and paid by the local political subdivision
collecting officer to the treasurer or other designated financial
officer of the municipality, who shall deposit such funds in
a separate segregated account within the special allocation fund.Beginning
August 28, 2014, if the voters in a taxing district vote to approve
an increase in such taxing district's sales tax or use tax, other
than the renewal of an expiring sales or use tax, any additional
revenues generated within an existing redevelopment project area
that are directly attributable to the newly voter-approved incremental
increase in such taxing district's levy rate shall not be considered
economic activity taxes subject to deposit into a special allocation
fund without the consent of such taxing district. 4.
Beginning January 1, 1998, for redevelopment plans and projects
adopted or redevelopment projects approved by ordinance and which
have complied with subsections 4 to 12 of this section, in addition
to the payments in lieu of taxes and economic activity taxes
described in subsections 1, 2 and 3 of this section, up to fifty
percent of the new state revenues, as defined in subsection 8
of this section, estimated for the businesses within the project
area and identified by the municipality in the application required
by subsection 10 of this section, over and above the amount of
such taxes reported by businesses within the project area as
identified by the municipality in their application prior to
the approval of the redevelopment project by ordinance, while
tax increment financing remains in effect, may be available for
appropriation by the general assembly as provided in subsection
10 of this section to the department of economic development
supplemental tax increment financing fund, from the general revenue
fund, for distribution to the treasurer or other designated financial
officer of the municipality with approved plans or projects. 5.
The treasurer or other designated financial officer of the municipality
with approved plans or projects shall deposit such funds in a
separate segregated account within the special allocation fund
established pursuant to section 99.805. 6.
No transfer from the general revenue fund to the Missouri supplemental
tax increment financing fund shall be made unless an appropriation
is made from the general revenue fund for that purpose. No municipality
shall commit any state revenues prior to an appropriation being
made for that project. For all redevelopment plans or projects
adopted or approved after December 23, 1997, appropriations from
the new state revenues shall not be distributed from the Missouri
supplemental tax increment financing fund into the special allocation
fund unless the municipality's redevelopment plan ensures that
one hundred percent of payments in lieu of taxes and fifty percent
of economic activity taxes generated by the project shall be
used for eligible redevelopment project costs while tax increment
financing remains in effect. This account shall be separate
from the account into which payments in lieu of taxes are deposited,
and separate from the account into which economic activity taxes
are deposited. 7. In order
for the redevelopment plan or project to be eligible to receive
the revenue described in subsection 4 of this section, the municipality
shall comply with the requirements of subsection 10 of this section
prior to the time the project or plan is adopted or approved
by ordinance. The director of the department of economic development
and the commissioner of the office of administration may waive
the requirement that the municipality's application be submitted
prior to the redevelopment plan's or project's adoption or the
redevelopment plan's or project's approval by ordinance. 8.
For purposes of this section, "new state revenues" means: (1)
The incremental increase in the general revenue portion of state
sales tax revenues received pursuant to section 144.020, excluding
sales taxes that are constitutionally dedicated, taxes deposited
to the school district trust fund in accordance with section
144.701, sales and use taxes on motor vehicles, trailers, boats
and outboard motors and future sales taxes earmarked by law.
In no event shall the incremental increase include any amounts
attributable to retail sales unless the municipality or authority
has proven to the Missouri development finance board and the
department of economic development and such entities have made
a finding that the sales tax increment attributable to retail
sales is from new sources which did not exist in the state during
the baseline year. The incremental increase in the general revenue
portion of state sales tax revenues for an existing or relocated
facility shall be the amount that current state sales tax revenue
exceeds the state sales tax revenue in the base year as stated
in the redevelopment plan as provided in subsection 10 of this
section; or (2) The state
income tax withheld on behalf of new employees by the employer
pursuant to section 143.221 at the business located within the
project as identified by the municipality. The state income
tax withholding allowed by this section shall be the municipality's
estimate of the amount of state income tax withheld by the employer
within the redevelopment area for new employees who fill new
jobs directly created by the tax increment financing project. 9.
Subsection 4 of this section shall apply only to the following: (1)
Blighted areas located in enterprise zones, pursuant to sections
135.200 to 135.256, blighted areas located in federal empowerment
zones, or to blighted areas located in central business districts
or urban core areas of cities which districts or urban core areas
at the time of approval of the project by ordinance, provided
that the enterprise zones, federal empowerment zones or blighted
areas contained one or more buildings at least fifty years old;
and[(1)](a)
Suffered from generally declining population or property taxes
over the twenty-year period immediately preceding the area's
designation as a project area by ordinance; or[(2)](b) Was a historic hotel located in a county of the first
classification without a charter form of government with a population
according to the most recent federal decennial census in excess
of one hundred fifty thousand and containing a portion of a city
with a population according to the most recent federal decennial
census in excess of three hundred fifty thousand; (2)
Blighted areas consisting solely of the site of a former automobile
manufacturing plant located in any county with a charter form
of government and with more than nine hundred fifty thousand
inhabitants. For the purposes of this section, "former automobile
manufacturing plant" means a redevelopment area containing a
minimum of one hundred acres, and such redevelopment area was
previously used primarily for the manufacture of automobiles
but ceased such manufacturing after the 2007 calendar year; or (3)
Blighted areas consisting solely of the site of a former insurance
company national service center containing a minimum of one hundred
acres located in any county with a charter form of government
and with more than nine hundred fifty thousand inhabitants. 10.
The initial appropriation of up to fifty percent of the new
state revenues authorized pursuant to [subsections 4 and
5]subsection 4 of this section shall not be made
to or distributed by the department of economic development to
a municipality until all of the following conditions have been
satisfied: (1) The director
of the department of economic development or his or her designee
and the commissioner of the office of administration or his or
her designee have approved a tax increment financing application
made by the municipality for the appropriation of the new state
revenues. The municipality shall include in the application
the following items in addition to the items in section 99.810: (a)
The tax increment financing district or redevelopment area,
including the businesses identified within the redevelopment
area; (b) The base year of
state sales tax revenues or the base year of state income tax
withheld on behalf of existing employees, reported by existing
businesses within the project area prior to approval of the redevelopment
project; (c) The estimate
of the incremental increase in the general revenue portion of
state sales tax revenue or the estimate for the state income
tax withheld by the employer on behalf of new employees expected
to fill new jobs created within the redevelopment area after
redevelopment; (d) The official
statement of any bond issue pursuant to this subsection after
December 23, 1997; (e) An
affidavit that is signed by the developer or developers attesting
that the provisions of subdivision (1) of subsection 1 of section
99.810 have been met and specifying that the redevelopment area
would not be reasonably anticipated to be developed without the
appropriation of the new state revenues; (f)
The cost-benefit analysis required by section 99.810 includes
a study of the fiscal impact on the state of Missouri; [and] (g)
The statement of election between the use of the incremental
increase of the general revenue portion of the state sales tax
revenues or the state income tax withheld by employers on behalf
of new employees who fill new jobs created in the redevelopment
area; (h) The name, street
and mailing address, and phone number of the mayor or chief executive
officer of the municipality; (i)
The street address of the development site; (j)
The three-digit North American Industry Classification System
number or numbers characterizing the development project; (k)
The estimated development project costs; (l)
The anticipated sources of funds to pay such development project
costs; (m) Evidence of the
commitments to finance such development project costs; (n)
The anticipated type and term of the sources of funds to pay
such development project costs; (o)
The anticipated type and terms of the obligations to be issued; (p)
The most recent equalized assessed valuation of the property
within the development project area; (q)
An estimate as to the equalized assessed valuation after the
development project area is developed in accordance with a development
plan; (r) The general land
uses to apply in the development area; (s)
The total number of individuals employed in the development
area, broken down by full-time, part-time, and temporary positions; (t)
The total number of full-time equivalent positions in the development
area; (u) The current gross
wages, state income tax withholdings, and federal income tax
withholdings for individuals employed in the development area; (v)
The total number of individuals employed in this state by the
corporate parent of any business benefitting from public expenditures
in the development area, and all subsidiaries thereof, as of
December thirty-first of the prior fiscal year, broken down by
full-time, part-time, and temporary positions; (w)
The number of new jobs to be created by any business benefitting
from public expenditures in the development area, broken down
by full-time, part-time, and temporary positions; (x)
The average hourly wage to be paid to all current and new employees
at the project site, broken down by full-time, part-time, and
temporary positions; (y) For
project sites located in a metropolitan statistical area, as
defined by the federal Office of Management and Budget, the average
hourly wage paid to nonmanagerial employees in this state for
the industries involved at the project, as established by the
United States Bureau of Labor Statistics; (z)
For project sites located outside of metropolitan statistical
areas, the average weekly wage paid to nonmanagerial employees
in the county for industries involved at the project, as established
by the United States Department of Commerce; (aa)
A list of other community and economic benefits to result from
the project; (bb) A list of
all development subsidies that any business benefitting from
public expenditures in the development area has previously received
for the project, and the name of any other granting body from
which such subsidies are sought; (cc)
A list of all other public investments made or to be made by
this state or units of local government to support infrastructure
or other needs generated by the project for which the funding
pursuant to this section is being sought; (dd)
A statement as to whether the development project may reduce
employment at any other site, within or without the state, resulting
from automation, merger, acquisition, corporate restructuring,
relocation, or other business activity; (ee)
A statement as to whether or not the project involves the relocation
of work from another address and if so, the number of jobs to
be relocated and the address from which they are to be relocated; (ff)
A list of competing businesses in the county containing the
development area and in each contiguous county; (gg)
A market study for the development area; (hh)
A certification by the chief officer of the applicant as to
the accuracy of the development plan; (2)
The methodologies used in the application for determining the
base year and determining the estimate of the incremental increase
in the general revenue portion of the state sales tax revenues
or the state income tax withheld by employers on behalf of new
employees who fill new jobs created in the redevelopment area
shall be approved by the director of the department of economic
development or his or her designee and the commissioner of the
office of administration or his or her designee. Upon approval
of the application, the director of the department of economic
development or his or her designee and the commissioner of the
office of administration or his or her designee shall issue a
certificate of approval. The department of economic development
may request the appropriation following application approval; (3)
The appropriation shall be either a portion of the estimate
of the incremental increase in the general revenue portion of
state sales tax revenues in the redevelopment area or a portion
of the estimate of the state income tax withheld by the employer
on behalf of new employees who fill new jobs created in the redevelopment
area as indicated in the municipality's application, approved
by the director of the department of economic development or
his or her designee and the commissioner of the office of administration
or his or her designee. At no time shall the annual amount of
the new state revenues approved for disbursements from the Missouri
supplemental tax increment financing fund exceed thirty-two million
dollars; provided, however, that such thirty-two million dollar
cap shall not apply to redevelopment plans or projects initially
listed by name in the applicable appropriations bill after August
28, 2015, which involve either: (a)
A former automobile manufacturing plant; or (b)
The retention of a federal employer employing over two thousand
geospatial intelligence jobs.

At no time shall the
annual amount of the new state revenues for disbursements from
the Missouri supplemental tax increment financing fund for redevelopment
plans and projects eligible under the provisions of paragraph
(a) of this subdivision exceed four million dollars in the aggregate.
At no time shall the annual amount of the new state revenues
for disbursements from the Missouri supplemental tax increment
financing fund for redevelopment plans and projects eligible
under the provisions of paragraph (b) of this subdivision exceed
twelve million dollars in the aggregate. To the extent a redevelopment
plan or project independently meets the eligibility criteria
set forth in both paragraphs (a) and (b) of this subdivision,
then at no such time shall the annual amount of new state revenues
for disbursements from the Missouri supplemental tax increment
financing fund for such eligible redevelopment plan or project
exceed twelve million dollars in the aggregate; (4)
Redevelopment plans and projects receiving new state revenues
shall have a duration of up to fifteen years, unless prior approval
for a longer term is given by the director of the department
of economic development or his or her designee and the commissioner
of the office of administration or his or her designee; except
that, in no case shall the duration exceed twenty-three years. 11.
In addition to the areas authorized in subsection 9 of this
section, the funding authorized pursuant to subsection 4 of this
section shall also be available in a federally approved levee
district, where construction of a levee begins after December
23, 1997, and which is contained within a county of the first
classification without a charter form of government with a population
between fifty thousand and one hundred thousand inhabitants which
contains all or part of a city with a population in excess of
four hundred thousand or more inhabitants. 12.
There is hereby established within the state treasury a special
fund to be known as the "Missouri Supplemental Tax Increment
Financing Fund", to be administered by the department of economic
development. The department shall annually distribute from the
Missouri supplemental tax increment financing fund the amount
of the new state revenues as appropriated as provided in the
provisions of [subsections 4 and 5]subsection
4 of this section if and only if the conditions of subsection
10 of this section are met. The fund shall also consist of any
gifts, contributions, grants or bequests received from federal,
private or other sources. Moneys in the Missouri supplemental
tax increment financing fund shall be disbursed per project pursuant
to state appropriations. 13.
Redevelopment project costs may include, at the prerogative
of the state, the portion of salaries and expenses of the department
of economic development and the department of revenue reasonably
allocable to each redevelopment project approved for disbursements
from the Missouri supplemental tax increment financing fund for
the ongoing administrative functions associated with such redevelopment
project. Such amounts shall be recovered from new state revenues
deposited into the Missouri supplemental tax increment financing
fund created under this section. 14.
For redevelopment plans or projects approved by ordinance that
result in net new jobs from the relocation of a national headquarters
from another state to the area of the redevelopment project,
the economic activity taxes and new state tax revenues shall
not be based on a calculation of the incremental increase in
taxes as compared to the base year or prior calendar year for
such redevelopment project, rather the incremental increase shall
be the amount of total taxes generated from the net new jobs
brought in by the national headquarters from another state.In
no event shall this subsection be construed to allow a redevelopment
project to receive an appropriation in excess of up to fifty
percent of the new state revenues.